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Elms Drive, Chelmsford

East of England

£420,000
Listed on 20/04/2026

Property Details

Bedrooms
2
Type
Detached Bungalow
Area
797 sqft

Description

This two-bedroom detached bungalow presents a unique opportunity for renovation and potential expansion in an excellent city centre location, just a short walk from the mainline railway station to London. The property features a long entrance hall leading to a lounge/diner with gas fire and access to a lean-to, which could be revitalised for additional living space. The dining area offers the possibility of conversion into a third bedroom, catering to growing families or those seeking additional rental potential. While the kitchen requires updating, it already has ample cabinetry and worktop space to build upon. With off-road parking for two cars and a shared driveway leading to a detached garage, this property is not only functional but also provides scope for future enhancement. The rear garden includes a paved patio area and lawn, perfect for outdoor activities or further landscaping opportunities. Overall, this bungalow combines convenience with significant refurbishment potential in a sought-after area.

Investment Analysis

(CM1 area)

Above Market Value

This property is priced +26.4% above area average per sq ft

+26.4%
This Property
£527/sq ft
Area Average
£417/sq ft
Avg Rent (weekly)
£336
Avg Yield
4.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£365,365
10% above area average per sq ft
Potential ROI
-20.6%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
67
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (CM1)

Area prices are rising by +4.2% over the last 12 months
3 year growth: -1.1%
5 year growth: +5.4%
Investment Disclaimer: Analysis based on CM1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Elms Drive, Chelmsford
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£1,488
Based on a loan of £315,000 over 30 years at 3.91% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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